Revlon Says: Creditors Lack Standing to Assert Claims of ‘General Interest to the Estate’
A creditor with ‘derivative’ claims based on preference or fraudulent transfer can’t convert them to ‘direct’ claims by asking for equitable relief.
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For Chapter 15 Recognition, the Foreign Proceedings Must Entail Insolvency
A foreign proceeding designed only to protect company assets won’t qualify as a ‘foreign proceeding’ entitled to recognition under chapter 15.